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Description: Savers can access up to a quarter of their funds in a new fixed-rate cash Isa from Leeds Building Society.

The one-year deal pays 3.15 per cent and Leeds claims it is the highest rate on the market for a fixed-rate Isa that will not penalise savers for withdrawals.

Customers do not have to give notice and will not be charged if they wish to access up to 25 per cent of their funds. It can be opened by post, online and in branch.

Conditions: Savers cannot transfer their previous years’ Isa funds into the account. Exceeding the 25 per cent barrier for withdrawals will incur a loss of 90 days’ of interest. The minimum investment is £1, the maximum is this year’s allowance of £5640.

Contact: www.leedsbuildingsociety.co.uk

VERDICT: Ian Cooper, director of Cheshire-based Cheshire House Financial Planning, said: “This deal doesn’t jump out at me – it strikes me purely as a marketing ploy. If you really need such a small amount of money to access over one year, you’d go to Santander’s instant access account that pays 3.3 per cent. That’s a variable account, but the rate is unlikely to change over year.

“In terms of fixed-rate cash Isas, Virgin offers a better deal of 3.3 per cent for 12 months and allows previous Isa transfers in and only has a penalty of 60 days’ loss of interest should you need the money.”